Like numerous other processes, selling requires some level of experience for an individual not to bump into hiccups during the process. That’s why so many new sellers get advised to seek the services of professionals like Houston real estate agents or brokers if at all they are looking to put their homes or vacant land on the property market. In truth, selling a house is more straightforward as opposed to land. How’s that true? Well, when a prospective buyer approaches a seller selling a home, he or she will be able to look at different features, appliances, or rooms that the property has to offer. With a vacant lot, all you have to show is – Dirt, and nothing more!
Now on top of all that, you also lack the necessary level of experience required in selling vacant land in Houston, Texas. You’ll surely have your work cut out for you, wouldn’t you agree?
A top Houston, real estate agent, will not focus on the land as it is, but dwell on its potential. Let your marketing strategies revolve around that as you try to convince your potential buyers to close the deal. Take the purchaser to a place where he or she can imagine what it would be like owning such property, and what they can create out of it.
Fortunately, most buyers who go for vacant land have already figured out what they want to do with the asset, so this makes your work easier. Just come up with an incredible pitch, and before you know it, they’ll be asking for the documents to sign.
But, I will reserve all that brouhaha for later on. Right now, we need to talk about what you ought to do before officially putting you land up for sale.
a. Do you have all the essential documents?
Even though it’s all business, you should know there are so many legal issues that can cause glitches in this process if you aren’t careful. To avoid such problems, you got to have all your legal papers that will indicate you’ve settled your annual taxes or any other expense that requires your attention. Talk to your local authorities, and inquire about zoning.
b. Is the property appraised?
You know it never hurts to know what your vacant land is worth. How else will you figure out the appropriate asking price?
It only costs approximately five hundred dollars for a professional appraiser to come and give you a clear picture of what to expect. All this gets done while taking into account what similar properties go for on the current Houston, Texas market. It’s about competition, so you got to outsmart other sellers, and hopefully, sell fast and at a fair price.
c. Know the market
Do note that the appraisal you get is nothing more than an estimate, so how much your vacant lot sells hinges on the volatility of the market. The market temperature fluctuates every once a while, so you’ll realize that on a hot market your property gets a much higher offer than anticipated, and in a slower market, it sells for less. It’s all about timing!
d. Owner financing
We’ve realized that many buyers usually choose to work with sellers who provide this option. Let them know that instead of waiting for a bank loan they can pay small amounts every month, and a little interest at the end. You have two ways of going about things when dealing with this method. You can either ask the buyer to sign an agreement stating he or she will pay a specific amount every month and by the time all the payments get made, you’ll transfer the title of the land to their name. Alternatively, you can work on the land’s ownership status immediately after the buyer signs a promissory note with all the terms of engagement.
Selling a vacant land can be easy if you have a compass or guide. Contact We Buy Houses Fast Houston for more inquiries.